Medinotec Inc. Files Q1 2024 10-Q Report
Ticker: MDNC · Form: 10-Q · Filed: Jul 12, 2024 · CIK: 1931055
| Field | Detail |
|---|---|
| Company | Medinotec Inc. (MDNC) |
| Form Type | 10-Q |
| Filed Date | Jul 12, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, medical-devices
TL;DR
Medinotec Inc. filed its Q1 2025 10-Q. All systems go.
AI Summary
Medinotec Inc. filed its quarterly report on Form 10-Q for the period ending May 31, 2024. The company, incorporated in Nevada and operating in the surgical and medical instruments sector, is based in Dubai. This filing covers the first quarter of their fiscal year, which ends on February 28th.
Why It Matters
This filing provides investors with an update on Medinotec Inc.'s financial performance and operational status for the first quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new disclosures.
Key Numbers
- 05/31/2024 — Reporting Period End Date (Indicates the end of the financial quarter covered by the report.)
- 02/28 — Fiscal Year End (Defines the end of Medinotec Inc.'s annual accounting cycle.)
Key Players & Entities
- Medinotec Inc. (company) — Filer of the 10-Q report
- May 31, 2024 (date) — End of the reporting period
- February 28 (date) — Fiscal year end
- NV (state) — State of incorporation
- DUBAI (location) — Business and mailing address city
FAQ
What is the primary business of Medinotec Inc.?
Medinotec Inc. operates in the SURGICAL & MEDICAL INSTRUMENTS & APPARATUS industry, SIC code 3841.
When does Medinotec Inc.'s fiscal year end?
Medinotec Inc.'s fiscal year ends on February 28th.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending May 31, 2024.
Where is Medinotec Inc. located?
Medinotec Inc.'s business and mailing address is in DUBAI.
In which state is Medinotec Inc. incorporated?
Medinotec Inc. is incorporated in NV (Nevada).
Filing Stats: 4,432 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-07-12 12:20:09
Filing Documents
- mdnc10q_053124.htm (10-Q) — 712KB
- image_001.jpg (GRAPHIC) — 4KB
- ex31_1.htm (EX-31.1) — 9KB
- ex31_2.htm (EX-31.2) — 9KB
- ex32_1.htm (EX-32.1) — 5KB
- 0001663577-24-000191.txt ( ) — 4054KB
- mdnc-20240531.xsd (EX-101.SCH) — 28KB
- mdnc-20240531_cal.xml (EX-101.CAL) — 48KB
- mdnc-20240531_def.xml (EX-101.DEF) — 75KB
- mdnc-20240531_lab.xml (EX-101.LAB) — 204KB
- mdnc-20240531_pre.xml (EX-101.PRE) — 182KB
- mdnc10q_053124_htm.xml (XML) — 679KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3:
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 9 Item 4:
Controls and Procedures
Controls and Procedures 9 PART II – OTHER INFORMATION Item 1:
Legal Proceedings
Legal Proceedings 11 Item 1A:
Risk Factors
Risk Factors 11 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 11 Item 3: Defaults Upon Senior Securities 11 Item 4: Mine Safety Disclosure 11 Item 5: Other Information 11 Item 6: Exhibits 11 2 Table of Contents PART I - FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements Our unaudited consolidated financial Page Number F-1 Unaudited Consolidated Balance Sheets as of May 31, 2024 and February 29, 2024; F-2 Unaudited Consolidated Statements of Operations and Comprehensive Income/(Loss) for the three months ended May 31, 2024 and May 31, 2023; F-3 Unaudited Consolidated Statements of Stockholders' Equity / (Deficit) for the three months ended May 31, 2024 and May 31, 2023; F-4 Unaudited Consolidated Statements of Cash Flows for the three months ended May 31, 2024 and May 31, 2023; and F-5 Notes to the Unaudited Consolidated Financial Statements. 3 Table of Contents Medinotec Incorporated Consolidated Financial Statements Consolidated Balance Sheets (Unaudited) May 31 2024 $ February 29 2024 $ Assets Current Assets Cash 2,519,083 2,808,910 Accounts receivable, net of allowances 358,679 589,761 Inventory 958,337 863,452 Other current assets 98,951 117,174 Total Current Assets 3,935,050 4,379,297 Loans and notes receivable — — Property, plant and equipment, net of accumulated depreciation 316,335 320,122 Deferred tax asset 14,095 42,881 Operating right-of-use asset 56,760 61,979 Total Assets 4,322,240 4,804,279 Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued liabilities 744,591 801,550 Due to stockholders/directors 1,588 1,587 Operating lease liability, current portion 25,575 24,316 Total Current Liabilities 771,754 827,453 Long Term Liabilities Related party loans payable 1,266,390 1,769,957 Operating lease liability, net of current portion 33,873 39,698 Total Liabilities 2,072,017 2,637,108 Stockholders' Equity Capital stock 11,734 11,734 Capital stock additional paid in capital 3,296,391 3,296,391 Retained Earnings (Deficit) ( 1,154,121 ) ( 1,241,325 ) Accumulated other